Former Latter-day Saint Danny exposes the LDS Church's financial scandal and questions why Gérald Caussé—its "moneyman"—was named apostle.
Script
Hello, I’m Danny and I was an active Latter-day Saint for 60 years.
Today, I want to briefly respond to an announcement the LDS Church made on November 6, 2025, in naming its newest apostle. His name is Gerald Causse, of the Presiding Bishopric for the Church of Jesus Christ of Latter-day Saints. He is a Frenchman known for his ecclesiastical oversight of the faith's financial empire. He is the Church’s moneyman - in charge of shepherding its real estate, financial, investment, and humanitarian operations for the past ten years. More on Gerald Causse in a minute - but first let me give some context.
Starting way back in 1997, The Mormon Church created Ensign Peak Advisors, an investment arm of the LDS Corporation to manage its reserved funds purchased with excess tithing and income. At its inception, Ensign Peak initially managed approximately $7 Billion of the Church’s assets.
The portfolio grew rapidly, and the top leaders of the LDS Church became worried that membership might stop paying tithing once they learned to what extent it was growing and that tithing was being invested in the Stock Market.
In 2001, Ensign Peak began creating LLCs (Limited Liability Companies) with non-operational locations outside Utah. Throughout the following years, Ensign Peak continued to create up to 12 non-legal clone LLCs to conceal the amount of the Church’s holdings which eventually grew to $37.8 billion by the year 2019.
To understand the extent in which Ensign Peak went to violate the Exchange Act and Rule of the Securities Exchange Commission – you can either go online to SEC.org and read the Cease-and-Desist Order or watch my comprehensive coverage of this matter on my YouTube video titled “Mormon Church fined for dishonesty.”
After learning of these possible violations, the SEC began an investigation of Ensign Peak and the LDS Church. Upon completing its investigation into the fraudulent practices - on February 21, 2023, a nine-page Cease-and-Desist Order from the United States Securities and Exchange Commission was served upon Ensign Peak Advisors and the LDS Church.
It’s important to know that Ensign Peak is governed by a Board of Trustees, consisting of the three members of the Church’s Presiding Bishopric and the Managing Director of Ensign Peak. Ensign Peak’s Managing Director is appointed by the Church’s First Presidency and reports directly to the senior leadership of the Church – which again is comprised of the First Presidency and the Presiding Bishopric.
Ensign Peak did not have the authority to implement this illegal activity without the specific approval of the Church’s First Presidency throughout the three consecutive administrations of Gordon B. Hinckley, Thomas S. Monson, and Russel M. Nelson, and the approval of the Presiding Bishoprics during that time. The Quorum of the 12 apostles itself was not privy to the Church’s financial investment information or practices.
In its Press Release on February 21, 2023, the United States Securities Exchange Commission stated, “We allege that the LDS Church’s investment manager (Ensign Peak) with the Church’s knowledge (First Presidency and Presiding Bishopric) went to great lengths to avoid disclosing the Church’s investments, depriving the Commission and the investing public of accurate market information.”
Upon an agreed settlement offer by the LDS church, the SEC fined Ensign Peak Advisors $4 million and the Church of Jesus Christ of Latter-day Saints $1 million. They signed the SEC Order agreeing to cease-and-desist future illegal behavior.
Remember, every misfiling and every shell company handled by Ensign Peak was directly approved by the First Presidency and Presiding Bishopric. These six men are highly educated and knew fully well what Ensign Peak was doing in hiding the Church’s assets for 22 years – over two decades.
At the time of the SEC Order in 2023, here are the names of those top leaders involved in this matter.
First Presidency: Russell Nelson (Renown Heart Surgeon, MD) Henry Eyring (Harvard Business, Stanford professor of business) Dallin Oaks (Law Professor at University of Chicago, Supreme Court Judge, and President of BYU).
Presiding Bishopric: Gerald Causse (Business Master’s degree) Christopher Waddell (Merrill Lynch Vice-president of investments) Todd Budge (President and CEO of Tokyo Star Bank).
These six top executives of the LDS church are guilty of intentionally breaking Federal Law. Usually, top executives of secular corporations step down, resign, or are fired when they are caught intentionally violating Federal laws. Sometimes, guilty parties like this serve jail or prison time for their crimes. Shouldn’t these men do the same?
Instead, how does the LDS Church deal with these law breakers? Well, the new President of the Corporation of the Church of Jesus Christ of Latter-day Saints, Dallin Oaks - just rewarded Presiding Bishop, Gerald Causse by appointing him to be the newest apostle, prophet, seer, and revelator. And in the upcoming April 2026, General Conference of the LDS Church – this law-breaker will be sustained by the general membership, who by raising their hands to the square will be in essence be saying, “keep up the good work, brother!”
It’s my opinion that the LDS Church is not run by humble godly men as in biblical times - like the fishermen and tentmakers Jesus chose to be His disciples. It is run by Profit-Managers - lawyer’s and businessmen. These 15 LDS apostles and 3 presiding bishopric members are not theologians; they are highly educated company executives - who are running a multi-hundred-billion-dollar corporation under the guise of religion. Their primary goal is to grow the church financially. They are investing donated tithing funds they call “sacred,” to turn a profit. If members of the church want to continue to follow and support these men, they can do so at their own peril and financial sacrifice.
Do you ever wonder what Jesus Christ would have to say about all of this? According to the scriptures, what advice would He give to these leaders? Would He commend them for hiding and burying their treasures in false Limited Liability Companies? Would He command them to deceive the public and members by setting up shell companies? Would He tell them to be dishonest and violate the laws of the land? Or would Jesus tell these leaders to give it away to the poor and less fortunate by using the Church’s wealth to build homeless shelters, hospitals, schools, dig wells, cure disease, world hunger, and generally alleviate suffering?
The LDS Church is not only NOT following Jesus’ counsel found in scripture – it is heading totally in the opposite direction. It wants to call itself the true Church of Christ without doing the things Christ would do. If Jesus was really running the Mormon Church, would it look different than it does today? Would Jesus be hoarding riches or investing tithing money into temple buildings, malls, cattle ranches, farmland, apartment and office buildings? Would He be telling the poorest of poor to pay their tithing first?
I don’t think the church would look ANYTHING like it does today, if Yeshua was at the head. In fact, Jesus gave some powerful teaching concerning this very subject. Yeshua makes the point - that we can know the heart of these LDS leaders by where they are laying up their earthly treasures. Their hearts are full of greed and pride. All of this should cause every Latter-day Saint great concern about who is truly at the helm of the Mormon Church. I’m convinced that Jesus Christ our Lord and Savior - is appalled that all this dishonesty and hypocrisy is being carried out in His name.
Okay, I know this video has been a harsh indictment on the LDS Church’s top leadership. But I felt the need to respond to their actions and unchristian-like behavior. I will now rest my case…at least for now.
Thanks for watching. Find more videos like this on You Tube or at Talking to Mormons.com
God Bless!